Mosaic (NYSE:MOS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, March 14th.
According to Zacks, “Mosaic is well placed to gain from rising global demand for phosphate and potash in 2018. Moreover, the acquisition of Vale Fertilizantes will help the company to capitalize on the rapidly growing Brazilian agricultural market. Mosaic should also gain from its cost reduction measures and efforts to boost production capacity. However, Mosaic is exposed to a still soft operating environment in the agriculture space. We are also concerned about its elevated debt level and higher expected interest expenses in 2018. The company has also underperformed the industry it belongs to over a year.”
A number of other equities research analysts also recently issued reports on the stock. Cowen upped their price target on shares of Mosaic from $21.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, November 22nd. JPMorgan Chase & Co. assumed coverage on shares of Mosaic in a report on Friday, January 12th. They issued a “neutral” rating and a $26.00 price target on the stock. Royal Bank of Canada increased their target price on shares of Mosaic from $24.00 to $28.00 and gave the stock a “sector perform” rating in a report on Friday, January 12th. Stephens began coverage on shares of Mosaic in a research report on Friday, February 2nd. They issued an “overweight” rating for the company. Finally, CIBC raised shares of Mosaic from a “sector underperform” rating to a “neutral” rating in a research report on Sunday, February 11th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. Mosaic has a consensus rating of “Hold” and an average price target of $25.84.
Mosaic (NYSE:MOS) last posted its quarterly earnings results on Monday, February 19th. The basic materials company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. Mosaic had a negative net margin of 1.45% and a positive return on equity of 3.90%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. analysts predict that Mosaic will post 1.35 EPS for the current fiscal year.
In related news, Director Kelvin R. Westbrook purchased 1,200 shares of Mosaic stock in a transaction dated Tuesday, February 27th. The shares were acquired at an average price of $27.63 per share, for a total transaction of $33,156.00. Following the acquisition, the director now directly owns 1,200 shares in the company, valued at $33,156. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MOS. State of Wisconsin Investment Board raised its holdings in Mosaic by 45.2% in the 3rd quarter. State of Wisconsin Investment Board now owns 427,070 shares of the basic materials company’s stock valued at $9,220,000 after buying an additional 132,943 shares during the period. BNP Paribas Arbitrage SA grew its position in Mosaic by 14.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 472,470 shares of the basic materials company’s stock valued at $10,201,000 after acquiring an additional 59,028 shares in the last quarter. Sei Investments Co. grew its position in Mosaic by 32.5% in the 3rd quarter. Sei Investments Co. now owns 19,362 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 4,751 shares in the last quarter. New York State Common Retirement Fund grew its position in Mosaic by 2.5% in the 3rd quarter. New York State Common Retirement Fund now owns 744,300 shares of the basic materials company’s stock valued at $16,069,000 after acquiring an additional 18,500 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in Mosaic by 11.5% in the 3rd quarter. Toronto Dominion Bank now owns 133,407 shares of the basic materials company’s stock valued at $2,880,000 after acquiring an additional 13,722 shares in the last quarter. Hedge funds and other institutional investors own 80.88% of the company’s stock.
Mosaic Company Profile
The Mosaic Company is a producer and marketer of concentrated phosphate and potash crop nutrients. The Company operates through three segments: Phosphates, Potash and International Distribution. The Company is a supplier of phosphate- and potash-based crop nutrients and animal feed ingredients. The Phosphates segment owns and operates mines and production facilities in Florida, which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana, which produce concentrated phosphate crop nutrients.
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